FTX chief Sam Bankman-Fried told investors he needs emergency funding to cover a shortfall of up to $8 billion due to withdrawal requests received in recent days, according to people familiar with the matter.

Cash-strapped crypto exchange FTX has added a new warning to customers in the form of a bright red banner on its FTX.com website today, warning customers that the exchange has halted withdrawals.

Binance, the world’s largest crypto exchange, has backed out of its agreement to purchase FTX just one day after signing an agreement to rescue the company on Tuesday.

Crypto markets continued to fall Wednesday, with news that Binance won't buy FTX, fueling additional declines as U.S. equities markets closed.

Sam Bankman-Fried no longer ranks in the top 500 on Bloomberg’s billionaire index, but CZ remains at rank 87.

Starting a company in your 20s is one thing, but raising millions in seed funding as a university student is a different ballgame altogether.

By Parikshit Mishra

Thailand-based SCB 10X, the corporate venture capital arm of the SCBX Group, has pumped $10 million into the crypto custody platform RakkaR Digital in a seed funding round.Fireblocks assisted the TRX and all TRC20-based tokens of the TRON DAO blockchain, as TheCoinRise reported.RakkaR will also introduce its own mobile application next year.

The Government today (October 31) issues a policy statement on the development of Virtual Assets (VA) in Hong Kong. The statement sets out the Government's policy stance and approach towards developing a vibrant sector and ecosystem for VA in Hong Kong. The following topics are covered in the statement:

Since the start of the year, the cryptocurrency market has lost almost $1 trillion in market cap due to the downward pressure imposed on it, culminating in a run of bankruptcies involving crypto hedge funds and lenders, including Celsius Network, Voyager Digital, and Three Arrows Capital, and the scaling back of operations at firms like Blockchain.com and Coinbase.